SBA Announces Funding For Regional Innovation Cluster In NW Arkansas
by October 2, 2014 5:53 am 132 views
The U.S. Small Business Administration said it will support four new “Regional Innovation Clusters,” including the burgeoning start-up scene in Northwest Arkansas.
“Clusters are public-private partnerships that are driving innovation and job creation in our most promising regional hubs for innovation,” said Maria Contreras-Sweet, SBA director. “SBA has built a strategic infrastructure of financing and consulting networks in key regions to help new companies launch and small companies grow, particularly in underserved communities across the country.”
The four Regional Innovation Cluster awardees, ranging from $500,000 to $550,000, were selected from more than 40 applicants and represent a wide range of diverse geographic areas and industries. From urban to rural, and clean technology to autonomous systems, the cluster initiatives focus on the most effective approaches to linking small businesses to regional networks of leading research, commercialization tools and financing.
The funds will be used to provide mentoring and counseling services, mentor-protégé and teaming programming, and to showcase and pitch events to prospective investors and public-private sector adopters of new technology.
The four new Regional Innovation Clusters include:
Retail, Supply Chain and Food Processing Cluster of the Ozarks Region, Northwest Arkansas, Northeast Oklahoma, and Southeast Missouri – Anchored by three of the largest companies in retail, logistics and food processing, funding for the Ozarks region will be used to provide service delivery to underrepresented businesses in the region and business acceleration through the ARK accelerator.
Water Technology Cluster, Milwaukee, Wisconsin – Already convening the highest concentration of companies focused on water technology in the nation, the cluster will utilize SBA funding to establish a Center of Excellence for Freshwater Innovation and Small Business Development.
Marine Industries Science and Technology Cluster, I-10 Corridor (Louisiana, Mississippi, Alabama, and Florida) – The Marine Industries Science and Technology (MIST) Cluster will focus on the Stennis Space Center’s ecosystem of marine technology research, the highest concentration of oceanographers in the world, and a broad consortium of federal and state partners to provide targeted support for the creation and growth of small businesses involved in “blue technology.”
Autonomous and Unmanned Systems Cluster, Southeastern New Mexico – From precision agriculture and forestry management to clean energy development, Southeastern New Mexico is attempting to capitalize on the ever-increasing applications of autonomous and unmanned systems. The cluster initiative will use SBA funding to inaugurate an 85,000 square-foot innovation hub that will include 3D manufacturing and prototyping tools and co-working space/incubation for autonomous system startups.
Since 2010, the SBA has invested in regional clusters throughout the U.S.